Revenue contraction remains persistent, with quarterly figures showing extreme volatility and gross margins that frequently dip into negative territory, such as the -13.9% margin reported in 2025Q3.
| Metric | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 4.34M | 6.77M | 44.38M | 122.65M | 79.04M | 14.51M | 9.88M | 13.13M | 9.87M | 21.01M | 20.6M | 22.07M | 25.03M | 22.41M | 17.45M | 14.5M | 19.82M | 20.51M | 39.48M | 42.12M | 53.66M | 43.95M | 41.5M | 29.42M | 24.67M | 19.36M | 24.8M | 36.4M | 70.2M | 800K |
| Revenue Growth % | -35.82% | -84.75% | -63.81% | 55.17% | 444.59% | 46.96% | -24.76% | 33.03% | -53.05% | 1.99% | -6.64% | -11.83% | 11.72% | 28.38% | 20.35% | -26.82% | -3.37% | -48.05% | -6.29% | -21.49% | 22.09% | 5.9% | 41.05% | 19.26% | 27.4% | -21.92% | -31.87% | -48.15% | 8675% | - |
| Cost of Goods Sold | 2.96M | 6.92M | 28.14M | 51.99M | 46.23M | 9.91M | 7.26M | 8.35M | 7.92M | 10.95M | 8.43M | 7.89M | 8.36M | 8.15M | 6.17M | 5.67M | 8.25M | 9.09M | 16.83M | 19.25M | 25.82M | 23.57M | 21.49M | 17.21M | 9.62M | 5.88M | 7.7M | 10.7M | 21.3M | 0 |
| COGS % of Revenue | 68.15% | 102.22% | 63.41% | 42.39% | 58.49% | 68.27% | 73.52% | 63.58% | 80.26% | 52.1% | 40.89% | 35.75% | 33.4% | 36.39% | 35.36% | 39.11% | 41.62% | 44.34% | 42.63% | 45.69% | 48.13% | 53.64% | 51.78% | 58.49% | 38.98% | 30.39% | 31.05% | 29.4% | 30.34% | - |
| Gross Profit | 1.38M | -150K | 16.24M | 70.65M | 32.81M | 4.61M | 2.62M | 4.78M | 1.95M | 10.07M | 12.18M | 14.18M | 16.67M | 14.25M | 11.28M | 8.83M | 11.57M | 11.41M | 22.65M | 22.88M | 27.83M | 20.37M | 20.01M | 12.21M | 15.05M | 13.48M | 17.1M | 25.7M | 48.9M | 800K |
| Gross Margin % | 31.85% | -2.22% | 36.59% | 57.61% | 41.51% | 31.73% | 26.48% | 36.42% | 19.74% | 47.9% | 59.1% | 64.25% | 66.6% | 63.61% | 64.64% | 60.89% | 58.38% | 55.66% | 57.37% | 54.31% | 51.87% | 46.36% | 48.22% | 41.51% | 61.02% | 69.61% | 68.95% | 70.6% | 69.66% | 100% |
| Gross Profit Growth % | 1022.67% | -100.92% | -77.02% | 115.32% | 612.42% | 76.14% | -45.3% | 145.43% | -80.65% | -17.34% | -14.11% | -14.95% | 16.97% | 26.33% | 27.77% | -23.68% | 1.37% | -49.61% | -1.01% | -17.8% | 36.61% | 1.82% | 63.87% | -18.88% | 11.68% | -21.17% | -33.46% | -47.44% | 6012.5% | - |
| Operating Expenses | 19.43M | 38.48M | 37.85M | 47.06M | 23.01M | 8.58M | 5.85M | 6.42M | 5.94M | 12.72M | 15.76M | 18.43M | 16.25M | 16.37M | 14.02M | 12.42M | 15.5M | 18.14M | 25.88M | 25.27M | 24.85M | 20.19M | 19.38M | 17.5M | 15.48M | 19.41M | 24.1M | 16M | 13.6M | 1.5M |
| OpEx % of Revenue | 447.2% | 568.38% | 85.28% | 38.37% | 29.11% | 59.11% | 59.27% | 48.87% | 60.18% | 60.54% | 76.5% | 83.51% | 64.94% | 73.08% | 80.33% | 85.67% | 78.24% | 88.47% | 65.57% | 59.99% | 46.32% | 45.94% | 46.69% | 59.47% | 62.75% | 100.26% | 97.18% | 43.96% | 19.37% | 187.5% |
| Selling, General & Admin | 19.32M | 37.88M | 34.5M | 46.41M | 22.49M | 7.95M | 5.52M | 6.02M | 5.51M | 12.15M | 14.68M | 17.11M | 15.43M | 15.07M | 12.93M | 11.63M | 14.2M | 13.9M | 19.39M | 21.45M | 21.07M | 16.96M | 16.01M | 14.83M | 14.15M | 18.23M | 23.9M | 15.8M | 13.5M | 1.5M |
| SG&A % of Revenue | 444.74% | 559.6% | 77.74% | 37.84% | 28.46% | 54.75% | 55.91% | 45.84% | 55.81% | 57.8% | 71.27% | 77.52% | 61.65% | 67.27% | 74.1% | 80.2% | 71.64% | 67.79% | 49.13% | 50.92% | 39.27% | 38.59% | 38.58% | 50.42% | 57.35% | 94.14% | 96.37% | 43.41% | 19.23% | 187.5% |
| Research & Development | 107K | 594K | 1.42M | 652K | 520K | 633K | 332K | 398K | 431K | 575K | 1.08M | 1.32M | 824K | 1.3M | 1.09M | 794K | 1.31M | 4.24M | 6.49M | 3.82M | 3.78M | 3.23M | 3.37M | 2.66M | 1.33M | 1.19M | 0 | 0 | 0 | 0 |
| R&D % of Revenue | 2.46% | 8.77% | 3.19% | 0.53% | 0.66% | 4.36% | 3.36% | 3.03% | 4.37% | 2.74% | 5.23% | 5.99% | 3.29% | 5.81% | 6.23% | 5.48% | 6.6% | 20.68% | 16.44% | 9.07% | 7.05% | 7.36% | 8.11% | 9.05% | 5.4% | 6.12% | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 1.93M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.74K | 0 | 0 | 0 | 0 | 200K | 200K | 100K | 0 |
| Operating Income | -18.05M | -38.63M | -21.61M | 23.59M | 9.8M | -3.97M | -3.24M | -1.63M | -3.99M | -2.66M | -3.58M | -7.83M | 416K | -1.1M | -2.74M | -3.59M | -3.94M | -6.73M | -3.24M | -2.39M | 2.98M | 181.99K | 635.54K | -5.28M | -426K | -5.94M | -7M | 9.7M | 35.3M | -700K |
| Operating Margin % | -415.35% | -570.59% | -48.7% | 19.24% | 12.4% | -27.37% | -32.8% | -12.45% | -40.44% | -12.64% | -17.39% | -35.47% | 1.66% | -4.9% | -15.69% | -24.78% | -19.86% | -32.82% | -8.2% | -5.68% | 5.55% | 0.41% | 1.53% | -17.96% | -1.73% | -30.65% | -28.23% | 26.65% | 50.28% | -87.5% |
| Operating Income Growth % | 53.28% | -78.73% | -191.6% | 140.74% | 346.69% | -22.66% | -98.23% | 59.05% | -50.23% | 25.89% | 54.22% | -1981.73% | 137.89% | 59.9% | 23.82% | 8.67% | 41.53% | -107.96% | -35.31% | -180.27% | 1537.17% | -71.36% | 112.03% | -1140.48% | 92.82% | 15.21% | -172.16% | -72.52% | 5142.86% | - |
| EBITDA | -12.99M | -31.98M | -14.91M | 28.66M | 14.74M | -3.44M | -2.84M | -1.25M | -3.65M | -2.31M | -3.22M | -7.55M | 659K | -846K | -2.38M | -3.23M | -3.41M | -5.99M | -2.24M | -1.06M | 4.38M | 804.34K | 1.11M | -4.88M | 64.24K | -5.57M | -6.8M | 9.9M | 35.4M | -700K |
| EBITDA Margin % | -298.92% | -472.45% | -33.6% | 23.36% | 18.64% | -23.71% | -28.77% | -9.53% | -37.02% | -10.99% | -15.61% | -34.21% | 2.63% | -3.78% | -13.65% | -22.28% | -17.22% | -29.19% | -5.67% | -2.53% | 8.17% | 1.83% | 2.67% | -16.57% | 0.26% | -28.77% | -27.42% | 27.2% | 50.43% | -87.5% |
| EBITDA Growth % | 59.39% | -114.45% | -152.05% | 94.46% | 528.12% | -21.15% | -127.1% | 65.75% | -58.21% | 28.23% | 57.4% | -1245.83% | 177.9% | 64.5% | 26.25% | 5.33% | 42.99% | -167.25% | -110.38% | -124.29% | 444.99% | -27.48% | 122.75% | -7688.8% | 101.15% | 18.09% | -168.69% | -72.03% | 5157.14% | - |
| D&A (Non-Cash Add-back) | 5.06M | 6.64M | 6.7M | 5.06M | 4.93M | 531K | 398K | 383K | 337K | 347K | 367K | 277K | 243K | 252K | 355K | 363K | 522K | 743.67K | 996.16K | 1.33M | 1.4M | 622.35K | 473.59K | 409.07K | 490.24K | 364.92K | 200K | 200K | 100K | 0 |
| EBIT | -16.45M | -38.98M | -21.52M | 23.67M | 6.45M | -2.02M | -3.11M | -1.63M | -3.99M | -3.79M | -2.08M | -7.82M | 418K | -1.09M | -2.71M | -3.59M | -3.94M | -6.73M | -2.55M | -1.16M | 2.98M | 183.73K | 635.54K | -5.28M | 569.17K | -5.71M | -6.98M | 9.65M | 35M | -700K |
| Net Interest Income | -6.93M | -3.35M | -1.2M | -611K | -506K | -233K | 133K | 167K | 177K | -212K | -16K | -6K | -11K | 7K | 28K | 53K | 9K | 320K | 777.73K | 731.89K | 302.25K | 72.09K | 93.39K | 152.31K | 404.63K | 646.72K | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 78K | 153K | 642K | 62K | 133K | 167K | 231K | 1K | 2K | 4K | 2K | 7K | 28K | 53K | 9K | 320.06K | 777.73K | 753.54K | 402.58K | 104.34K | 93.39K | 152.31K | 404.63K | 646.72K | 0 | 0 | 0 | 0 |
| Interest Expense | 6.93M | 3.35M | 1.27M | 764K | 1.15M | 295K | 0 | 0 | 54K | 213K | 18K | 10K | 13K | 0 | 0 | 0 | 0 | 0 | 0 | 21.64K | 100.33K | 32.25K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -5.34M | -3.7M | -785K | -687K | -4.5M | 1.66M | 133K | 167K | 327K | -1.35M | -16K | -6K | -11K | 7K | 28K | 53K | 9K | 20.06K | 777.73K | -495.71K | 302.25K | 270.88K | 93.39K | 152.31K | 404.63K | 646.72K | 880K | 1.5M | 0 | 700K |
| Pretax Income | -23.39M | -42.33M | -22.4M | 22.91M | 5.3M | -2.31M | -3.11M | -1.47M | -3.66M | -2.87M | -3.6M | -7.83M | 405K | -1.09M | -2.71M | -3.54M | -3.93M | -6.41M | -2.46M | -1.66M | 3.28M | 452.86K | 728.92K | -5.13M | -21.36K | 0 | -6.1M | 11.2M | 35.3M | 0 |
| Pretax Margin % | -538.25% | -625.26% | -50.46% | 18.68% | 6.71% | -15.94% | -31.45% | -11.18% | -37.12% | -13.65% | -17.47% | -35.5% | 1.62% | -4.87% | -15.53% | -24.42% | -19.81% | -31.26% | -6.23% | -3.94% | 6.12% | 1.03% | 1.76% | -17.44% | -0.09% | - | -24.6% | 30.77% | 50.28% | - |
| Income Tax | 0 | 7.2M | -6.02M | 4.45M | -968K | 12K | 0 | 103K | -17.99M | 212K | 16K | 0 | 0 | 0 | 0 | -40K | -84K | -1.2M | -777.73K | 88.6K | 65K | 0 | 0 | 0 | -641.96K | -738.56K | -1.9M | 4.4M | 14.3M | 700K |
| Effective Tax Rate % | 0% | -17% | 26.87% | 19.4% | -18.25% | -0.52% | 0% | -7.02% | 491.13% | -7.39% | -0.44% | 0% | 0% | 0% | 0% | 1.13% | 2.14% | 18.65% | 31.64% | -5.34% | 1.98% | 0% | 0% | 0% | 3004.73% | - | 31.15% | 39.29% | 40.51% | - |
| Net Income | -14.74M | -53.36M | -16.78M | 18.46M | 6.27M | -2.13M | -3.15M | -1.74M | 41.83M | -2.87M | -3.6M | -7.83M | 405K | -1.09M | -2.71M | -3.5M | -3.84M | -5.53M | -2.46M | -1.75M | 3.22M | 452.86K | 674.57K | -6.45M | 215.96K | -5.2M | -4.2M | 6.8M | 21M | -700K |
| Net Margin % | -339.31% | -788.24% | -37.81% | 15.05% | 7.94% | -14.64% | -31.86% | -13.26% | 423.95% | -13.65% | -17.47% | -35.5% | 1.62% | -4.87% | -15.53% | -24.14% | -19.39% | -26.99% | -6.23% | -4.15% | 5.99% | 1.03% | 1.63% | -21.94% | 0.88% | -26.84% | -16.94% | 18.68% | 29.91% | -87.5% |
| Net Income Growth % | 72.37% | -217.98% | -190.9% | 194.32% | 395.2% | 32.45% | -80.8% | -104.16% | 1558.54% | 20.33% | 54.05% | -2034.32% | 137.12% | 59.74% | 22.59% | 8.88% | 30.58% | -125.12% | -40.61% | -154.35% | 610.3% | -32.87% | 110.45% | -3088.67% | 104.16% | -23.73% | -161.76% | -67.62% | 3100% | - |
| Net Income (Continuing) | -23.39M | -49.52M | -16.38M | 18.46M | 6.27M | -2.33M | -3.11M | -1.57M | -2.24M | -4.01M | -2.09M | -7.83M | 405K | -1.09M | -2.71M | -3.5M | -3.84M | -6.41M | -1.86M | -1.75M | 3.22M | 452.86K | 728.92K | -5.13M | 934.12K | -5.06M | -4.2M | 6.8M | 21M | -700K |
| Discontinued Operations | 8.64M | -3.84M | -402K | 0 | 0 | 201K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 53.09K | 63.56K | 54.31K | 54.98K | 0 | 0 | 0 | 237.33K | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.74 | -26.10 | -9.80 | 10.20 | 4.00 | -2.00 | -2.60 | -1.50 | 25.90 | -1.70 | -2.20 | -4.70 | 0.30 | -0.74 | -1.80 | -2.50 | -3.00 | -4.30 | -1.90 | -1.40 | 2.40 | 0.30 | 0.50 | -5.90 | 0.20 | -4.90 | -3.70 | 4.60 | 14.30 | -0.55 |
| EPS Growth % | 93.33% | -166.33% | -196.08% | 155% | 300% | 23.08% | -73.33% | -105.79% | 1623.53% | 22.73% | 53.19% | -1666.67% | 140.82% | 59.17% | 28% | 16.67% | 30.23% | -126.32% | -35.71% | -158.33% | 700% | -40% | 108.47% | -3050% | 104.08% | -32.43% | -180.43% | -67.83% | 2690.58% | - |
| EPS (Basic) | -1.74 | -26.10 | -9.80 | 11.70 | 4.10 | -2.00 | -2.60 | -1.50 | 26.10 | -1.70 | -2.20 | -4.70 | 0.30 | -0.74 | -1.80 | -2.50 | -3.00 | -4.30 | -1.90 | -1.40 | 2.80 | 0.40 | 0.60 | -5.90 | 0.20 | -4.90 | -3.70 | 5.10 | 17.20 | -0.55 |
| Diluted Shares Outstanding | 8.49M | 1.91M | 1.72M | 1.87M | 1.84M | 1.16M | 1.16M | 1.14M | 1.57M | 1.71M | 1.64M | 1.68M | 1.63M | 1.48M | 1.48M | 1.43M | 1.3M | 1.29M | 1.27M | 1.22M | 1.33M | 1.44M | 1.49M | 1.09M | 1.08M | 1.06M | 1.14M | 1.49M | 1.47M | 1.27M |
| Basic Shares Outstanding | 8.49M | 1.91M | 1.72M | 1.58M | 1.52M | 1.16M | 1.16M | 1.14M | 1.56M | 1.67M | 1.61M | 1.67M | 1.58M | 1.48M | 1.48M | 1.43M | 1.3M | 1.29M | 1.27M | 1.22M | 1.17M | 1.15M | 1.15M | 1.09M | 1.07M | 1.06M | 1.14M | 1.33M | 1.22M | 1.27M |
| Dividend Payout Ratio | - | - | - | 50.66% | 72.47% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Imminent liquidity and insolvency
As reported in recent financial filings, ProPhase Labs has experienced a severe revenue decline, with quarterly figures consistently failing to stabilize following the post-pandemic diagnostic cliff, evidenced by the significant volatility and downward trajectory observed across the last ten quarters of reported operational performance data.
The company's inability to replace high-volume COVID-19 testing revenue with sustainable consumer product or genomic service sales suggests a fundamental erosion of its top-line base. Investors should monitor whether the recent quarterly revenue fluctuations represent a bottoming process or merely the continued decay of legacy diagnostic service contracts.
Based on the provided income statement data, ProPhase Labs exhibits highly erratic gross margins that frequently dip into negative territory, reflecting an inability to effectively manage the variable costs associated with its current mix of contract manufacturing and diagnostic service offerings in a post-pandemic environment.
The inconsistency in gross margins suggests that the company lacks the pricing power necessary to offset rising input costs or underutilized laboratory capacity. This volatility implies that the current business model remains highly sensitive to operational inefficiencies, which may continue to suppress profitability until a more stable revenue stream is established.
According to the company's income statements, SG&A expenses remain disproportionately high relative to total revenue, indicating that the firm's current operating structure is not scaled to its diminished revenue base, thereby exacerbating the net losses reported over the most recent fiscal periods.
The persistent reliance on high SG&A spending suggests that management has struggled to right-size the organization following the contraction of its diagnostic segment. This misalignment between overhead and revenue generation warrants further investigation into the company's ability to achieve operational break-even without significant further restructuring.
As evidenced by the recurring net losses and significant stock-based compensation expenses relative to revenue, the quality of earnings appears strained, with the company's bottom line heavily impacted by non-operating items and a lack of core profitability across its primary diagnostic and consumer segments.
The presence of substantial stock-based compensation during periods of deep net losses may indicate a misalignment between executive incentives and shareholder value creation. Investors should be cautious of the company's reliance on non-cash adjustments and the potential for future dilution as it attempts to fund its ongoing operations.
While some may argue that the Nebula Genomics asset provides a long-term data-driven moat, the company's precarious cash position of only $90,000 suggests that immediate liquidity constraints may force dilutive financing or asset sales before any potential value from the genomics pivot can be realized.
The market's focus on the potential of genomic data may be overlooking the immediate and existential threat posed by the company's current cash burn rate. This binary risk profile suggests that the company's survival is contingent upon securing external capital, which could significantly alter the equity value for existing shareholders.
Quick answers to the most common questions about buying PRPH stock.
For fiscal year 2025, ProPhase Labs, Inc. (PRPH) reported total revenue of $4.3M. This represents a 443.1% increase compared to $0.8M in 1996.
ProPhase Labs, Inc. (PRPH) reported a net loss of $14.7M for the fiscal year ending 2025.
ProPhase Labs, Inc. (PRPH) reported an operating income of $-18.0M, resulting in an operating profit margin of -415.4%. This margin reflects the operational efficiency of the business before interest and taxes.
ProPhase Labs, Inc. (PRPH) generated $1.4M in gross profit for the year, representing a gross profit margin of 31.9%. This demonstrates the company's core pricing power and production efficiency.